Western Forest Products (TSE:WEF) Shares Pass Below 200 Day Moving Average of $0.60

Western Forest Products Inc. (TSE:WEF)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.60 and traded as low as C$0.46. Western Forest Products shares last traded at C$0.46, with a volume of 91,408 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Securities decreased their target price on shares of Western Forest Products from C$0.65 to C$0.60 and set a “hold” rating for the company in a research report on Thursday, May 9th. CIBC lowered their price objective on shares of Western Forest Products from C$0.65 to C$0.60 in a research report on Thursday, May 9th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$0.71.

Western Forest Products Trading Down 1.1 %

The firm has a market cap of C$144.12 million, a P/E ratio of -2.39, a PEG ratio of 0.32 and a beta of 1.94. The company has a 50 day moving average of C$0.50 and a 200 day moving average of C$0.60. The company has a debt-to-equity ratio of 17.90, a quick ratio of 0.73 and a current ratio of 3.14.

Western Forest Products (TSE:WEF) last posted its earnings results on Tuesday, May 7th. The company reported C($0.02) earnings per share for the quarter. The company had revenue of C$239.50 million for the quarter, compared to the consensus estimate of C$231.00 million. Western Forest Products had a negative net margin of 5.96% and a negative return on equity of 9.90%. Analysts predict that Western Forest Products Inc. will post 0.004992 EPS for the current fiscal year.

Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated softwoods forest products company in Canada, the United States, Japan, China, Europe, and internationally. It is involved in timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber.